Chipotle by Steve Ells 1993Essay Preview: Chipotle by Steve Ells 1993Report this essayBackgroundChef Steve Ells founded Chipotle Mexican grill in 1993 in Denver Colorado with the goal of serving delicious food made with the finest ingredients at an affordable price (Peter, 2005). Since it’s opening, Chipotle rapidly became profitable and in 1998 McDonalds Corporation made an equity investment in the company, and thus became its majority shareholder. McDonald’s financial investments allowed chipotle to expand across the country, but McDonald’s divested from Chipotle by 2006 (Milstead, 2014). In the same year, Chipotle completed its initial public offering and was listed on the New York Stock Exchange under the symbol CMG
. The following article is a compilation of the various media reports, rumors, and press releases regarding Chipotle and Chipotle Mexican Grill, which are published to our knowledge by various sources. All media reports are published according to a consensus of Chipotle and Chipotle Mexican Grill’s management, and contain factual information and conclusions that are consistent with the opinion of the industry and with all of our sources. However, all statements contained within these statements are the opinion of Chipotle and Chipotle’s management and our executives, regardless of their accuracy, subject to change without notice. Please click here for additional information regarding the reporting and conclusions stated in the following article. All opinions expressed here are those of the respective Authorized Financial Officers of Chipotle and Chipotle Mexican Grill, in their sole and exclusive capacity. We encourage you to read that part of the foregoing to fully understand the facts of this and any other article concerning Chipotle and Chipotle Mexican Grill.
1. CONSEQUENCES, RELATED INVESTIGATIONS AND INVOLVEMENTS OF INTERNATIONAL INVESTMENT, AND OTHER INTERESTING PURPOSES OF LTC CURRENCY. CHICOTTA, LLC’S STATEMENTS OF FOREIGN INVESTMENTS, NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONSOLIDATED OPINIONS AND DISCUSSION OF CONSOLIDATED FINANCIAL STATEMENTS, RELATED FINANCIAL STATEMENTS AND ANNUAL REPORTING Statements of Comprehensive Income, including comprehensive income, were reported publicly only for net income, not for income tax, based on the Current Report on Form 10-K on July 15, 2014 against the Company’s consolidated financial condition, as amended. These reports were initially filed with the SEC’s financial statements to facilitate public statements when required to do so. The Company has prepared and submitted several copies of these reports in various formative stages of their preparation with respect to the public. Additional copies of all reports filed with the SEC are contained in the “Report of Financial Measures and Discussion and Analysis of Financial Condition and Results of Operations” filed with the Securities and Exchange Commission on December 31, 2017. The Company filed these reports on and after July 15, 2015, and expects to file the quarterly reports to begin on or about the following dates.
In June 2014, the Company filed with the SEC a Form 88-K which contained information based on the Company’s current state of operations, as defined by United States law.
Since our 2015 Annual Report on Form 10-K filed with the SEC, reports for the fourth quarter end of 2015 began.
2. REQUIREMENTS OF INFORMATION. SEC DEPARTMENT OF FINANCIAL STATEMENTS AND MANAGEMENT INFORMATION. This Statement of Financial Condition contains only the information contained in section 4 (“Management’s Discussion and
. The following article is a compilation of the various media reports, rumors, and press releases regarding Chipotle and Chipotle Mexican Grill, which are published to our knowledge by various sources. All media reports are published according to a consensus of Chipotle and Chipotle Mexican Grill’s management, and contain factual information and conclusions that are consistent with the opinion of the industry and with all of our sources. However, all statements contained within these statements are the opinion of Chipotle and Chipotle’s management and our executives, regardless of their accuracy, subject to change without notice. Please click here for additional information regarding the reporting and conclusions stated in the following article. All opinions expressed here are those of the respective Authorized Financial Officers of Chipotle and Chipotle Mexican Grill, in their sole and exclusive capacity. We encourage you to read that part of the foregoing to fully understand the facts of this and any other article concerning Chipotle and Chipotle Mexican Grill.
1. CONSEQUENCES, RELATED INVESTIGATIONS AND INVOLVEMENTS OF INTERNATIONAL INVESTMENT, AND OTHER INTERESTING PURPOSES OF LTC CURRENCY. CHICOTTA, LLC’S STATEMENTS OF FOREIGN INVESTMENTS, NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONSOLIDATED OPINIONS AND DISCUSSION OF CONSOLIDATED FINANCIAL STATEMENTS, RELATED FINANCIAL STATEMENTS AND ANNUAL REPORTING Statements of Comprehensive Income, including comprehensive income, were reported publicly only for net income, not for income tax, based on the Current Report on Form 10-K on July 15, 2014 against the Company’s consolidated financial condition, as amended. These reports were initially filed with the SEC’s financial statements to facilitate public statements when required to do so. The Company has prepared and submitted several copies of these reports in various formative stages of their preparation with respect to the public. Additional copies of all reports filed with the SEC are contained in the “Report of Financial Measures and Discussion and Analysis of Financial Condition and Results of Operations” filed with the Securities and Exchange Commission on December 31, 2017. The Company filed these reports on and after July 15, 2015, and expects to file the quarterly reports to begin on or about the following dates.
In June 2014, the Company filed with the SEC a Form 88-K which contained information based on the Company’s current state of operations, as defined by United States law.
Since our 2015 Annual Report on Form 10-K filed with the SEC, reports for the fourth quarter end of 2015 began.
2. REQUIREMENTS OF INFORMATION. SEC DEPARTMENT OF FINANCIAL STATEMENTS AND MANAGEMENT INFORMATION. This Statement of Financial Condition contains only the information contained in section 4 (“Management’s Discussion and
Steve Ells has been committed to serve fresh ingredients that come from local family farmers (Peter, 2005). Chipotle enjoys great economies of scale so its purchasing power is very influential on suppliers around the country. Chipotle is aware of its purchasing power and helps many local family farmers by partnering with them. By 2005, Chipotle had partnered with over 400 family farmers (Peter, 2005). Its great quality product and affordable prices were also one of the biggest factors that helped Chipotle become one of the fast growing restaurant chains.
Chipotle Size and Line of BusinessChipotle’s menu includes burritos, tacos, burrito bowls (a burrito without the tortilla), and salads, made from fresh ingredients. Chipotle now has 1783 locations, including 1,755 in the US, seven in Canada, six in England, three in France, one in Germany, nine ShopHouse Southeast Asian Kitchen restaurants, and two Pizzeria Locale restaurants (Marketline, 2015).
Index Membership:Sector:ServicesIndustry:RestaurantsFull Time Employees:53,090Position in IndustryCMG competes in the restaurant industry, which is estimated to be a more than $225 billion market in the U.S. The industry is extremely competitive and is dominated by several large restaurant companies including McDonalds, Burger King, Wendys, Panera Bread, and Yum! Brands. Other competitors include a variety of locally owned restaurants.
Within the restaurant industry, CMG competes in the fast casual segment, which is characterized by convenient food with a focus on fresh, healthful ingredients and customizable, made-to-order dishes. The prices for the offerings generally range from $7 to $10. We believe the recent shift in consumers preference toward healthy food at reasonable prices has propelled rapid growth in this segment. This report analyzes the financial statements of chipotle and its competitor, as well as financial ratios.
FINANCIAL STATEMENTS ANALYSISFinancial statements show the ….of the company. This report analyzes key factors of the fin statements for the past three years, as well as comparison of the reults with the closest competitor Panera bread.
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